Having drawn from the expertise of Atradius Collections' local offices, the International Debt Collection Handbook explains the different regulations and procedures for debt collections in the U.S.
Amicable collections
General information
We maintain a professional collection process and focus on the relationships between you and your debtors at all times. We pursue debtors within the bounds of federal and state law and liaise with you and our relationship management team to ensure that we serve you efficiently and effectively.
Our collectors work to ensure that if the initial collection phase isn’t productive, the file is adequately documented to fully utilise the second tier of our collection process – the legal phase.
When there is a dispute, we aim to reach an amicable solution between you and your debtor. We do this by analysing all the contractual documents (e.g. signed contracts, orders, confirmations, invoices, delivery notes, as well as standard terms previously agreed to). All of our investigations are completed with the assistance and agreement of our legal team.
Local agents
We have a network of local attorneys to assist with collections if necessary.
Interest
In most states, if you don’t have any signed contractual agreement that states interest will be owed, then we can’t pursue interest or add it. It will only be charged if you have a contract validating it. If the contractual interest is greater than 4%, then the interest we charge will match that of the agreed amount.
The Debt Collection Handbook presents a snapshot of the U.S.' economic situation and covers the following topics:
- Debt collection costs
- Prescription
- Payment methods
- Types of companies
- Safeguard measures
- Legal procedures & legal system
- Enforcement in debt, movable and immovable proprety
- Insolvency proceedings
- Arbitration and mediation
To read more about the steps and procedures undertaken in debt collections in the U.S. and other countries: